Friday, January 05, 2007

Oahu prices up, sales off for 2006

No surprises here: as we've been following all year, prices were up but sales slowed in 2006. The Advertiser reports that the number of homes sold was the fewest since 2002.

Last year, single-family homes sold for a median price of $630,000, or 7 percent more than $610,000 in 2005. The median is the point at which half the prices were higher and half lower. For condominiums, the median was $310,000, up 15 percent from $305,000 during the same comparable period.
Jim Wright of Century 21 says he "expects prices to decline around 5 percent and sales to rise by about 5 percent in 2007."


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